A video of Ron Paul predicting world economic collapse followed by social chaos turned up today, dated last December. Most of the world’s major governments are spending more than they have; too many owe more than they can repay and all are in denial so Mr. Pauls’ prophecy wasn’t much of a reach. We know Congress has set up prison camps and is training the Army in our cities so it’s obvious the government agrees on what’s coming. It’s going ahead and bringing it on anyway.
The Democrats want to spend and the Republicans complain but vote for the appropriations anyway. The appropriated money is fictitious Fed fiddling; it represents no wealth whatsoever, just electrons. I’ll give you 5 million electrons for your house! Right.
The cities and counties and states and state universities and government employee unions are looking at employee pension plans glaringly in the red while Social Security payments exceed the collections supposed to fund them (all played down by the media) while the tsunami of baby boomers is starting to retire, expecting these non-existent funds to support them. That cannot be admitted; the single largest cause of pension inadequacy is the Fed’s decades of interest rate suppression. Bond interest traditionally funds pensions–safe, secure investments, you know–and with the returns from that shut down by the government, pension funds have been unable to keep up with their obligations.. Thank you, O Compassionate Government! Not forgetting Alan Greenspan and Ben Bernanke!
News today reported that last quarters’ GDP, the total output of the U.S, shrank. The economy then, is shrinking. The government’s policies are increasing business and industrial costs with onerous regulation, especially of energy; that affects everybody. It’s demanding more expensive cars and homes while shutting down cheap energy in favor of high-cost renewables that don’t work very well.
Unemployment is stuck at high levels, the young especially can’t find work yet government and union workers get unaffordable raises, to be paid from money taken with increased taxes on people earning less, whose living costs keep rising even though government assures us that inflation is in check. Yeah. The government wisely excludes food and energy when it computes the cost of living; who does it think it’s kidding?
Ron Paul’s timetable was 2012-2013 when he made his prediction. Not to worry, we’re actually in a recovery, per the government and the major media. Who listens to Ron Paul? Well, the very quiet report that the economy shrank last quarter is being downplayed for a reason. It’s BIG news, economically. And it makes Ron Paul look correct and the government, politicians and pundits look like liars or if you prefer, ignoramouses.
Best put by whatever you think you will need, as much as you can. Don’t count on banks for a while, either. If you want to laugh, enjoy now, while you can. Pretty soon, few will be laughing, or so it seems to me… Of course, what do I know? I guess, we’ll see…